Wednesday, February 27, 2013

Business News in the Lehigh Valley, 2/27/13

Good morning Lehigh Valley, and happy Wednesday!

PPL stated yesterday that the price of electricity for most PPL customers will drop from 7.769 cents per kilowatt hour to 6.935 on March 1. A spokesman with PPL said the change will reduce the bill by about $8.30 per month for a residential customer using 1,000 kilowatt hours of electricity.

New Jersey Governor Chris Christie signed a bill yesterday to legalize internet gambling in the state. The bill included setting a 10-year trial period for online betting, and raising the taxes on the Atlantic City casinos’ online winnings from 10 to 15 percent.

Air Products and Chemicals Inc. of Trexlertown announced it has won the second largest order ever for an air separation unit in China. The company has been doing business in China since 1987.

Allentown city residents will not be granted a chance to get a say in Allentown's water privatization plan due to an issue with the legality of the petition. The May vote would have allowed citizens to vote on selling or leasing any city asset worth more than $10 million.

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